By: Josh Linville, Vice President- Fertilizer
I could go on. There are still avenues where prices can come under pressure but even if that happens, it will take some time to actually affect price ideas.
Get used to the idea that values will be 1.5 times higher than last summer. Also, don't shoot the messenger.
The UAN paper market is a great indication for where the market expects prices to go. Q3/Q4 '21 UAN has been trading at ever increasing values. In the last several weeks, those values have increased almost $100 . More and more market factors continue to lean in favor of production which means values will be high. Urea markets continue to climb which causes UAN to climb as part of spread trades.
If you are wondering why your suppliers have not been talking much about spring '22 UAN pricing, it is due to the fact that no programs have been announced. With spring still happening, producers are focusing on that rather than looking ahead. From their POV, why wouldn't they. Seems like every week they wait, price ideas jump double digits....
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